Brookfield’s Toby Millman Takes Leadership Role with Perseus TDC
By Keith Loria April 11, 2023 8:12 am
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Brookfield Properties’ Toby Millman, who has served the last four years as senior vice president for the mid-Atlantic and Southeast regions for the company, is heading to Washington, D.C.-based Perseus TDC, the mid-Atlantic regional office of Transwestern Development Company.
Millman announced the move on his LinkedIn page Monday and the company confirmed that the 30-year real estate vet was named a regional partner.
“We are excited about the addition of such a seasoned executive to help us build on our existing pipeline and capitalize on unique opportunities in the market,” Carleton Riser, Perseus TDC’s president, said in a prepared statement. “The Washington metro area has been a primary focus for TDC’s long-term growth, and we are confident Toby’s deep knowledge and outstanding relationships will be invaluable as we continue to build on recent successes.”
During his time with Brookfield, Millman oversaw the firm’s development pipeline, including having been instrumental in the development of The Yards, the 48-acre waterfront development in D.C.’s Navy Yard.
Phase II of The Yards kicked off in December and includes work on several parcels, including Diamond Teague Park directly adjacent to Nationals Park, and will feature two residential buildings, a new waterfront public park, and low-cost incubator retail space for local-, woman- and minority-owned businesses.
During his tenure at Brookfield, the company also broke ground on Halley Rise, a $1.4-billion mixed-use project in Reston anchored by Wegmans.
“Brookfield extends its gratitude to Toby Millman for his exceptional contributions to the company and we wish him well in his new role,” according to a statement.
Rich Fernicola will now be leading development for the D.C. region for Brookfield.
Previously, Millman led Vornado Realty Trust’s multifamily development group, owned and operated Agora Development and worked for Washington-area developers EYA and Abdo Development, per the statement.
“I am excited to join a firm known for delivering high-quality apartment communities and desirable mixed-use environments in the mid-Atlantic and across the country,” Millman said in a prepared statement. “I look forward to joining the team and building on that momentum, enhancing Transwestern’s presence throughout the region.”
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Keith Loria can be reached at Kloria@commercialobserver.com.
